The BLOM Stock Index Pulled Down by Banking Stocks over the Past Week

The BLOM Stock Index (BSI) was down by 0.75% this past week to reach 1,169.71 points.

An average of 108,823 shares worth $1.61M were traded this past week compared to 172,267 shares worth $2.41M last week.

The market capitalization was also down from $10.16B last week to $10.08B this week. 

Regionally, the S&P Pan Arab Composite LargeMidCap Index, the MSCI Emerging Markets Index and the S&P AFE40 rose by weekly rates of 0.10%, 2.07% and 0.57%, respectively.

In the Arab markets, the bourses of Tunisia and Qatar rose by  1.06% and 1.74% over the week, respectively. Meanwhile, Bahrain and Saudi Arabia’s stock exchanges declined by 1.81% and 0.7%, respectively.

On the Beirut Stock Exchange (BSE), the banking sector accounted for 77% of the total traded value over the past week. BLOM Bank’s GDR shares declined by 0.17% to $11.70 and Bank Audi’s GDR shares fell by 1.85% to $6.35.

Bank Audi and Byblos Bank’s listed shares both declined by 0.93% and 3.57% to $6.39 and $1.62, respectively.

As for the BLOM Preferred Shares Index (BPSI), it dropped by 0.53% to 104.71 points. The drop is mainly attributed to the 4.19% decline in each of Bank of Beirut’s preferred I and H shares to the same price of $25.15 since Monday 08/05/2017 happened to be the ex-dividend date for the bank’s shares.

Meanwhile Byblos Bank’s Preferred 2008 and 2009 shares increased by 0.30% each to end the week at $100.50 and $100.90, respectively.

Bank BEMO’s preferred 2013 shares also added 0.25% over the week to close at $100.00.

In the real estate sector, which accounted for 21% of this week’s traded value on the BSE, Solidere’s A and B shares increased by 0.22% and 0.34% to $9.00 and $8.80, respectively.

In the industrial sector, Holcim’s shares lost a weekly 1.57% to close at $11.90.

On the London Stock Exchange (LSE), BLOM Bank GDRs decreased by 0.43% to $11.65 while Bank Audi’s GDR shares added 3.03% to $6.46. Solidere’s GDR shares decreased by 0.22% to $9.25.

Next Monday is a highly anticipated date, by which politicians must have reached a consensus around an electoral law. The outcome of these political talks is likely to affect overall sentiment and the BSE’s future performance.


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